With its default 20mph road speed limit, Wales has earned a reputation for being a nation not in a hurry. But tell that to Zip World, an adventure park operator where thrill-seekers are fired at more than 100mph on a wire across a disused slate quarry in Penrhyn.
“I guess we’ve become famous for having the fastest zipline in the world, while having the slowest roads,” said Andrew Hudson, the company’s chief executive.
Now, Zip World, founded by former Royal Marine commando Sean Taylor in 2013, has been sold to private equity firm Dolphin Capital in a deal worth £100 million.
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Dolphin, whose investments include the Hemel Hempstead indoor snow centre in Hertfordshire, will take a majority shareholding in the business. Taylor will retain a minority stake. LDC will exit.
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Zip World has grown from a single site in Penrhyn — once the largest man-made hole in the world, according to Hudson — to eight locations across Wales and England. Its latest, in London’s Olympic Park, will open next month.
Last year, the company welcomed 650,000 people, who enjoyed an array of activities from ziplining to underground mini-golf.
The £100 million valuation is equivalent to ten years’ worth of its historical earnings before interest, tax, depreciation and amortisation. The sale of the business was overseen by advisers from KPMG, Grant Thornton, Blake Morgan and Sedulo. Dolphin was helped by Katz Advisers.
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Hudson, previously commercial chief, was appointed chief executive in 2023. The former boss of pubs company Punch Taverns, Giles Thorley, chairs the business.
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“We don’t sterilise environments. We use the natural topography to provide the best experiences,” Hudson said of Zip World’s activities.
As for hurtling on a wire above the ground at more than five times the Welsh speed limit, he said: “From a consumer point of view, the risk will feel high. But the reality is that our health and safety culture is extremely robust. It is something that we are very proud of.”
